Opening price 1809.57 Last closing price 1809.36 Lowest price 1805.91 Highest price 1811.56
Gold prices stabilize
On Tuesday, because of the optimism of small US companies, and the hope of vaccine progress, gold once fell to the $1790 mark. But because the second spread of the epidemic was superimposed on international trade concerns, gold subsequently rebounded from the daily low by $20. At the same time, the data released on Tuesday showed that the United States June CPI data showed the biggest rebound in nearly eight years, highlighting that the Fed’s continued massive easing has made inflation expectations rise, this part of the pressure on the dollar. The latest report released by the World Gold Council on Tuesday shows that strong demand is expected to remain in the second half of the year.
Technical Analysis: Gold
Influenced by fundamentals yesterday, the price of gold rose slightly here. Today opened at 1809.57 in the morning, a short-term high. After the start, the price stabilized without significant volatility. The current price is 1807.19, which is in a volatile horizontal trend.
On the 1-hour chart, the price fluctuated steadily, and no obvious trend generated signals. The price was moving in the middle of the Bollinger Bands and was sideways. RSI shows that the market is in an overbought environment. Due to fundamental news, prices have not gone out of the high valley after a new round of increase. Pay attention to short-term callbacks within the day.
Daty trade strategy: Organize before 8 o’clock in the evening to make a profit by closing multiple orders. Be alert to callback after 8 o’clock and open short positions.
Resistance: 1812 1815 1820
Support: 1800 1795 1790
Z.com BullionTechnical Analyst: Tony Liu